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Want to know if your app idea is going to be successful? Well, you’re about to discover how today’s guest researches his ideas with the use of a super cool Chrome Extension. Also, he shares how he got his initial growth, how changing to a subscription model has helped his business and lastly, how he found his app developer and now co-founder.
Doing your Market Research with a Plug In
Before coming up with an app, Gary does his research to see if the market is not saturated yet with similar apps. He also likes to take a look at revenue numbers and a tool which helps him with this is a free Apptopia Chrome Extension. This plug ins lets him see the average 30-day downloads of the app and their average revenue for 30 days.
Acquiring Initial Growth
When Micswap came out in the beginning of 2015, they had a regular version which you can purchase of $2.99 and then just add features individually; and a pro version for $20 which comes with all features. When they decided to make the app free and limited the features so users can just buy upgrades, the downloads took off. They were cross-promoting within the app by popping up the Pro version option from time to time.
They also did press releases and a lot of promotions on social media including Instagram, Twitter and Facebook. You have to note though that they did very few ads, it was all about posting content frequently, placing in the hashtags and interacting with people.
Changing to a subscription model
For some of their apps, they had went for a subscription model but kept the option of paying one-time. You can basically download the app free and sign up for the subscription; but for those you don’t want a subscription, they can go for the pro version, which is the exact same app, except it’s a one-time payment and you own the app forever.
So far, the subscription model is faring well as users would just need the app for certain months so they are paying less.